{"id":8947,"date":"2024-09-04T00:04:37","date_gmt":"2024-09-04T00:04:37","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/09\/04\/equities-hold-firm-in-go-trend-as-industrials-play-strong-defense\/"},"modified":"2024-09-04T00:04:37","modified_gmt":"2024-09-04T00:04:37","slug":"equities-hold-firm-in-go-trend-as-industrials-play-strong-defense","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/09\/04\/equities-hold-firm-in-go-trend-as-industrials-play-strong-defense\/","title":{"rendered":"Equities Hold Firm in \u201cGo\u201d Trend as Industrials Play Strong Defense"},"content":{"rendered":"
\n

Good morning and welcome to this week\u2019s Flight Path. Equities consolidated their new \u201cGo\u201d trend this week.\u00a0We see that the indicator painted mostly strong blue bars even as price moved mostly sideways.\u00a0Treasury bond prices remained in a \u201cGo\u201d trend but painted an entire week of weaker aqua bars.\u00a0U.S. commodity index fell back into a \u201cNoGo\u201d after we had seen a few amber \u201cGo Fish\u201d bars and ended the week painting strong purple bars. The dollar, which had been showing \u201cNoGo\u201d strength ended the week painting weaker pink bars.<\/p>\n

$SPY Consolidates in \u201cGo\u201d Trend<\/h4>\n

The GoNoGo chart below shows that after entering a new \u201cGo\u201d trend just over a week ago, price has consolidated and moved mostly sideways.\u00a0GoNoGo Trend has been able to paint \u201cGo\u201d bars with a sprinkling of weaker aqua in the mix.\u00a0The end of the week saw strong blue bars return and price toward the top of the range.\u00a0GoNoGo Oscillator is in positive territory at a value of 3.\u00a0With momentum on the side of the \u201cGo\u201d trend and not yet overbought, we will watch to see if price can challenge for new highs this week.<\/p>\n<\/p>\n

The longer time frame chart shows that the trend returned to strength over the last few weeks.\u00a0Last week we saw a strong blue \u201cGo\u201d bar with price closing at the top of the weekly range, close to where it opened.\u00a0Some might call this a dragonfly doji, having slightly bullish implications. Since finding support at the zero level, GoNoGo Oscillator has continued to climb into positive territory now at a value of 3.\u00a0Momentum is firmly on the side of the \u201cGo\u201d trend. We will look for price to make an attempt at a new high in the coming weeks.<\/p>\n<\/p>\n

Treasury Yields Paint Weaker \u201cNoGo\u201d Trend<\/strong><\/p>\n

Treasury bond yields remained in a \u201cNoGo\u201d trend this week but the GoNoGo Trend indicator painted a string of weaker pink bars.\u00a0We can see this happened after an inability to set a new lower low.\u00a0GoNoGo Oscillator is riding the zero line as a Max GoNoGo Squeeze is in place.\u00a0It will be important to note the direction of the Squeeze break to determine the next direction for yields.<\/p>\n<\/p>\n

The Dollar\u2019s \u201cNoGo\u201d Weakens<\/h4>\n

After a strong lower low we see the dollar rallied into the end of the week and GoNoGo Trend painted weaker pink \u201cNoGo\u201d bars.\u00a0GoNoGo Oscillator has risen sharply to test the zero line from below and we see heavy volume at these levels.\u00a0We will watch to see if the Oscillator finds resistance at the zero line and if it gets turned away back into negative territory we will expect NoGo Trend Continuation.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good morning and welcome to this week\u2019s Flight Path. Equities consolidated their new \u201cGo\u201d trend this week.\u00a0We see that the indicator painted mostly strong blue bars even as price moved mostly sideways.\u00a0Treasury bond prices remained in a \u201cGo\u201d trend but painted an entire week of weaker aqua bars.\u00a0U.S. commodity index fell back into a \u201cNoGo\u201d […]<\/p>\n","protected":false},"author":0,"featured_media":8948,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-8947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/8947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=8947"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/8947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/8948"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=8947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=8947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=8947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}